The towns outside London with the most million-pound homes

Do you live in or near one of Britain's property millionaire hotspots?

The number of British property millionaires has fallen by 35,000 during the past year following house price drops in London.

A total of 733,777 homeowners now have a property valued at £1m or more, down from 768,553 in 2018, according to Zoopla data.

But while those living in homes worth seven-figure sums declined in London and the South East of England, other regions saw strong increases as house prices continued to rise.

Annabel Dixon, spokesperson for Zoopla, said: “It’s hard to ignore the overall decline in million-pound properties in the past 12 months. But it’s clear to see the majority of this decline resides in London.

“Outside of the capital, there has been significant growth in seven-figure properties, especially in the East of England and West Midlands.”

While it did not make it into the top 10, Cobham in Surrey has the highest proportion of £1m homes, with 44.3% of properties in the town valued at more than this sum, closely followed by Beaconsfield in Buckinghamshire at 44.2%.

Which regions have seen the strongest growth?

The East of England saw the strongest growth in million-pound homes during the year, with 6,237 new property millionaires created in the region.

Although it only accounts for 0.5% of Britain’s total number of £1m properties, the West Midlands also enjoyed solid gains, with 1,002 homes crossing the seven-figure threshold.